Where to Get Capital for Gift, Novelty, and Souvenir Stores

Looking for small business loans for gift, novelty, and souvenir stores? Talk to a banker who works with the SBA. This $22,000 gift, novelty, and souvenir stores loan was issued by an Iowa bank.

This small firm knew how to go about getting a business bank loan. Based in Ida Grove, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was United Bank Of Iowa, based in Ida Grove, Iowa.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
IDA GROVE, IA 51445

SBA Loan Lender

UNITED BANK OF IOWA
501 2ND ST
IDA GROVE, IA 51445

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

5/10/2000

Loan Approval Gross Amount

$22,000

Loan Approval from the SBA

Of the total $22,000 loan amount, the SBA guaranteed $17,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like United Bank Of Iowa that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

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Who Lends Money to Small Businesses in Ida Grove, Iowa

Iowa SBA 7A Lenders